Consumer confidence levels hit six-month low

The largest monthly sentiment decline in a year and a half has illustrated the fragility of Irish consumers’ new-found confidence, a survey has shown.

The latest edition of the monthly consumer sentiment index, from KBC Bank Ireland and economic think-tank the ESRI, shows a fall in reading from 105.8 in February to 100.6 in March. As a result, consumer confidence is now at its lowest level for six months.

A downgrading of Irish economic prospects, domestic political uncertainty, worry about the global economy and the Brexit issue were key drivers, according to the survey’s authors.